Tap Global’s crypto yield program surpasses $8m in assets

London - Tap Global Group plc (AIM:TAP) announced that its Tap Earn crypto asset yield program amassed more than $8.0 million in assets under management as of Sunday, according to a press release. The assets grew 43% from $5.6 million on August 20 and 129% from $3.5 million shortly after the May 18 launch. Bitcoin prices increased 12% during this period.

The program has earned roughly $141,000 in cumulative yield revenue since May, up from approximately $125,000 on August 20, equating to an annualized gross yield of around 7% on committed capital. Customers can earn up to 8.0% annualized on stablecoins, 3.5% on Ethereum, and 2.5% on Bitcoin, without lock-up periods or early withdrawal fees.

The company has made 20 consecutive weekly payouts to customers since the program's start. Tap Global intends to utilize its Digital Asset Income Strategy reserve through Tap Earn, funded by a £1 million placement on September 22. The company will release monthly reports on crypto assets, movements, and generated yield after the first treasury asset deployment.

CEO Arsen Torosian says the program generates over $30,000 monthly as extra revenue for the group. Tap Global provides digital finance services, merging money, payments, and crypto settlement in one application.